Morgan Stanley Raises Clearwater Analytics (NYSE:CWAN) Price Target to $30.00

Clearwater Analytics (NYSE:CWAN) had its target price boosted by investment analysts at Morgan Stanley from $20.00 to $30.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price points to a potential upside of 9.49% from the stock’s previous close.

Several other research firms have also issued reports on CWAN. Oppenheimer lifted their target price on Clearwater Analytics from $25.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, October 7th. Wells Fargo & Company lifted their target price on Clearwater Analytics from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler restated a “neutral” rating and set a $23.00 price target on shares of Clearwater Analytics in a research note on Monday, September 9th. Royal Bank of Canada boosted their price target on Clearwater Analytics from $25.00 to $28.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 18th. Finally, Citigroup initiated coverage on Clearwater Analytics in a research note on Monday, August 19th. They set a “buy” rating and a $28.00 price target on the stock. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Clearwater Analytics currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.67.

Clearwater Analytics Stock Performance

CWAN stock opened at $27.40 on Thursday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.78 and a quick ratio of 4.78. The business has a 50-day moving average price of $24.76 and a 200 day moving average price of $20.83. The company has a market capitalization of $6.73 billion, a P/E ratio of -342.50, a PEG ratio of 9.16 and a beta of 0.62. Clearwater Analytics has a 1-year low of $15.62 and a 1-year high of $27.41.

Clearwater Analytics (NYSE:CWAN) last posted its earnings results on Wednesday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Clearwater Analytics had a positive return on equity of 3.55% and a negative net margin of 1.14%. The company had revenue of $106.79 million for the quarter, compared to analyst estimates of $105.51 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. As a group, equities research analysts forecast that Clearwater Analytics will post 0.14 EPS for the current fiscal year.

Insider Activity at Clearwater Analytics

In related news, CFO James S. Cox sold 14,850 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $22.02, for a total value of $326,997.00. Following the sale, the chief financial officer now owns 232,503 shares in the company, valued at $5,119,716.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Clearwater Analytics news, CFO James S. Cox sold 18,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $26.16, for a total value of $489,192.00. Following the completion of the transaction, the chief financial officer now directly owns 224,044 shares of the company’s stock, valued at approximately $5,860,991.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO James S. Cox sold 14,850 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $22.02, for a total value of $326,997.00. Following the completion of the transaction, the chief financial officer now directly owns 232,503 shares of the company’s stock, valued at $5,119,716.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,879,543 shares of company stock worth $247,145,339 over the last quarter. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Wasatch Advisors LP lifted its holdings in Clearwater Analytics by 35.6% in the first quarter. Wasatch Advisors LP now owns 16,391,308 shares of the company’s stock valued at $289,962,000 after acquiring an additional 4,304,286 shares during the period. Vanguard Group Inc. raised its stake in shares of Clearwater Analytics by 17.2% during the 1st quarter. Vanguard Group Inc. now owns 15,131,505 shares of the company’s stock worth $267,676,000 after buying an additional 2,219,459 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Clearwater Analytics by 1.1% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 11,374,673 shares of the company’s stock worth $210,659,000 after buying an additional 128,402 shares during the period. William Blair Investment Management LLC raised its stake in shares of Clearwater Analytics by 0.6% during the 2nd quarter. William Blair Investment Management LLC now owns 10,430,794 shares of the company’s stock worth $193,178,000 after buying an additional 66,528 shares during the period. Finally, Conestoga Capital Advisors LLC raised its stake in shares of Clearwater Analytics by 2.5% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 6,671,247 shares of the company’s stock worth $123,551,000 after buying an additional 165,000 shares during the period. 50.10% of the stock is owned by institutional investors and hedge funds.

About Clearwater Analytics

Clearwater Analytics Holdings, Inc develops and provides a Software-as-a-Service (SaaS) solution for automated investment data aggregation, reconciliation, accounting, and reporting services to insurers, investment managers, corporations, institutional investors, and government entities in the United States and internationally.